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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Wednesday, September 7, 2011

Fears of eurozone contagion spread

Fears of eurozone contagion spreadFinancial Post (blog)
The eurozone's attempts to defend itself against the spread of contagion are showing signs of failure on almost every front, putting a global financial crisis originating in Europe back on the table. Political divisions between the core and the ...

Making Way for the Era of Sovereign DefaultBusiness Insider
But overly indebted entities will default, just as inevitably as flying pigs will hit the pavement. The glide path of Greece's financial condition is obvious. This pig is heading for the pavement, as are all the other PIIGS nations, which is why the ...

Hard Times Loom as Financial Crisis EbbsGold Seek
As an aside, last week, the latest round of policy response to the credit crisis in real estate by the mortgage bankers (Fannie and Freddie) entered the rumor mill. Would Obama execute an “October Surprise” by offering an $800 billion jubilee to upside ...

A short history of credit default swapsTelegraph.co.uk
A change in the name of a reference entity can have the consequence of voiding the CDS written against them as many investors found out to their cost during the financial crisis as several major banks collapsed and were rescued.

Moody's downgrades Malta to A2, negative outlookTimes of Malta
"The key drivers for today's rating action are:1) Lower medium-term economic growth rates, driven by a decline in potential output growth as a result of the 2008-09 financial crisis, thereby leaving the economy more vulnerable to further economic ...

5 Things Roiling the MarketsU.S. News & World Report (blog)
Policymakers in the United States and Europe have spent much of the last three years intervening in the economy, to halt a financial crisis and prevent a bad recession from becoming worse. By now, you'd think all that firepower would have solved the ...

Kudos fitting but prudence neededThe Canberra Times
BY THE CANBERRA TIMES Monday's comment by visiting European Commission president Jose Manuel Barroso that Australia could be proud of being the only developed country to have escaped the recession that followed the global financial crisis was, ...

RBI governor D Subbarao favours SLR cutEconomic Times
MUMBAI: Statutory liquidity ratio, the proportion of bank deposits set aside in safe government bonds, 'must' be brought down for an efficient market despite the buffering role it played in the economy during the global financial crisis, ...

U.S. Postal Services on Verge of DefaultU.S. Election News
Postmaster Patrick R. Donahoe said in an interview the US Postal Service is in a dire crisis and if they government does not act and help, the agency will default. The cause of USPS situation is a cited as a combination of increased internet use over ...

RBS: Greek default this yearCITY A.M.
GREECE will default in December, according to analysts at RBS, as yields on the sovereign's short-term debt reached a record yesterday. As Eurozone finance ministers struggled to reach a deal on the collateral they will demand in return for Greece's ...

Money Supply Growth Update: It's All About EuropeSeeking Alpha
Clearly, no one wants to lend Greece money, and everyone fears that the now-inevitable Greek default will not only wipe out lots of bank capital, but might also lead to otherPIIGS defaulting, and if that snowball started rolling downhill it could get ...

Global markets take major beatingAtlanta Journal Constitution
But a full-blown financial crisis in Europe could have a devastating impact on both sides of the Atlantic. The costs that banks pay to fund their businesses would rise, lending would slow and related institutions might also fail because of the complex ...

Post Newsletters & AlertsWashington Post (blog)
Morgan Stanley says the question isn't whether governments will default. It's how they will default. The IMF says there's no reason any governments should default, and makes an interesting point on the difference between primary-deficit problems and ...

Don't bank on containing contagionBusiness Spectator
If the contagion from the state of southern Europe is to be contained and prevented from undermining the stronger economies, led by Germany, that are eventually going to have to bail out and restructure the rest of the Eurozone, their banking systems ...

The Familiar Terrain of 'Uncharted Territory'The Atlantic Wire
What they mean to say is that traditional thinking by economists may not be enough to answer our problems, or as Mark Thoma put it more bluntly in The Fiscal Times, "What caused the financial crisis? Don't ask an economist." Want to add to this story? ...

BrieflyCharlotte Observer
Fears of a new financial crisis and worries about the health of the US economy sent share prices tumbling in Europe on Monday, and Asian markets opened lower today. US markets were closed Monday for the Labor Day holiday, but Wall Street braced for a ...